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Joined: 07 Feb 2005
Posts: 23
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 Posted: Thu Nov 24, 2005 8:57 am Post subject: UBS, Goldman, ABN AMRO to manage Telstra sale-govt |
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CANBERRA, Nov 24 (Reuters) - Swiss investment bank UBS UBSN.VX, U.S.-based Goldman Sachs JBWere GS.N and ABN AMRO Rothschild ABN.NAAH.AS have been selected by the Australian government to manage the potential A$25 billion ($18.5 billion) sale of Telstra Corp. Ltd. .
"These appointments are important in terms of progressing sale preparations so the government can be in a position, if it so decides in early 2006, to proceed with a possible sale later in the year," Finance Minister Nick Minchin said in a statement on Thursday.
The government is expected to decide in the first quarter of next year whether to sell all of its 51.8 percent stake in Australia's biggest phone company or sell part of it and transfer the rest into the so-called Future Fund which has been set up to cover pension liabilities. |
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